something a person wants but not really needs.

something that helps out a person and meets their needs and wants.

is an objective you plan to fulfill

is a plan of action for achieving your goals and objectives.

specific actions used to carry out strategies.

Do it their way; offer products that consumers want

the process of developing, promoting, pricing, selling, and distributing products to satisfy customer's wants and needs.

satisfying the needs and wants of a customer while making profit.

is the process of dividing a larger market into smaller parts.

Geographric Segmentation

markets divided by where the customers lives.

is when the group is considered as a whole with all the marketing activities; using a simple marketing plan.

include where the customer can obtain the product.

tangible item; can be durable or nondurable

function that considers a value that is affordable for customers and profitable for the business

Marketing Information Management

function that researches what the consumer wants

includes four basic strategies called the 4P's

Psychographics Segmentation

markets divied by social and pychological characteristics

include determining what a customer is willing to pay, what competition is charging, determining discounts and credit terms.

are plans of action used to achieve the goals(what to do)

Demographics Segmentation

Statistics that describe a population by personal characteristics such as age, gender, income, marital status, ethnicity, education, & occupation.

function the involves one-on-one contact with the customer.

function that involves obtaining the money to operate a business.

are specific actions for carrying out strategies and the goal. (how to)

Product that involves a business doing something.

is a group of potential customers.

Behavorial Segmentation

segmenting a market base on the way customers use a product or behave towards a product.

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Marketing Basics

Vocab

Term	Definition
Good	something a person wants but not really needs.
Service	something that helps out a person and meets their needs and wants.
Consumer	uses
Customer	buys
Goal	is an objective you plan to fulfill
Strategy	is a plan of action for achieving your goals and objectives.
Tactic	specific actions used to carry out strategies.
Customer Orientation	Do it their way; offer products that consumers want
Marketing	the process of developing, promoting, pricing, selling, and distributing products to satisfy customer's wants and needs.
Marketing Concept	satisfying the needs and wants of a customer while making profit.
Marketing Segment	is the process of dividing a larger market into smaller parts.
Geographric Segmentation	markets divided by where the customers lives.
Mass Market	is when the group is considered as a whole with all the marketing activities; using a simple marketing plan.
Place	include where the customer can obtain the product.
Product	tangible item; can be durable or nondurable
Pricing	function that considers a value that is affordable for customers and profitable for the business
Marketing Information Management	function that researches what the consumer wants
Marketing Mix	includes four basic strategies called the 4P's
Psychographics Segmentation	markets divied by social and pychological characteristics
Market	include determining what a customer is willing to pay, what competition is charging, determining discounts and credit terms.
Strategies	are plans of action used to achieve the goals(what to do)
Demographics Segmentation	Statistics that describe a population by personal characteristics such as age, gender, income, marital status, ethnicity, education, & occupation.
Selling	function the involves one-on-one contact with the customer.
Financing	function that involves obtaining the money to operate a business.
Tactics	are specific actions for carrying out strategies and the goal. (how to)
Service	Product that involves a business doing something.
Target Market	is a group of potential customers.
Behavorial Segmentation	segmenting a market base on the way customers use a product or behave towards a product.

Created by: fbeveridge

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